CJH Financial Planning

FINANCIAL FREEDOM - such a big word. Desired by all, understood by few. So do you have your own definition of what financial freedom is, and what it means to you? Clarity is power, and the clearer our definition of financial freedom, the more likely it can be achieved. While I was reading Adam Khoo's Secrets of Self-Made Millionaires , I came across a well-defined explanation of what financial freedom is, along with the other different 3 levels of wealth. Level 1: Financial Stability This is achieved when one has enough liquid assets to cover his/her expenses for at least 6 months, and he/she has sufficient life and hospitalisation insurance to protect against permanent disability, inability to work, or sudden death.

(Abstract from T. Harv Eker's Blog - Going After What You Really Want) The purpose for having money is pretty well the most important element in having money. Everyone I know who has become rich did so for a reason as if they needed to become rich. Most of them don’t live all that happily because they needed to become rich in order to prove that they’re okay, or responding to some programming other than an intention that moved them from their inner core. So go for whatever you want. In the end, we’re all going for the same thing. What we’re really seeking is the feeling that the objects of our wants will bring. A new house can give us a sense of comfort. A new car can heighten a feeling of importance. Travel and toys can invoke excitement and stave off boredom. Launching the business dream job can satisfy our need to achieve and be recognized. But we need to be real careful about what it is we want. Sometimes people keep wanting things and getting them, only to find out they ...

Source: The Straits Times, Lorna Tan Funds held in the Central Provident Fund Investment Scheme (CPFIS) achieved average gains of 6.8 per cent in the three months ended in September, thanks to rallying global equity markets.